Key milestones of Nafoods
On 26/08/1995, Thanh Vinh Co., Ltd – former of Nafoods Group JSC – was established and specialized in producing and distributing beverages. Festi brand was widely known and widely distributed in the market.
However, from 1998 the company encountered difficulties when major brands such as Coca-Cola and Pepsi dominated the domestic consumer goods market.
Started the research project for the factory specializing in processing and exporting fruit juice products.
Inaugurated the fruit and vegetable processing factory in Quynh Chau Commune, Quynh Luu District, Nghe An Province. The production line met European standards with a capacity of 5,000 tons per year.
Nafoods Group has made a significant change to overcome the fierce competition in the export market by expanding from the existing key products from pineapple juice concentrate to developing innovative products from passion fruit.
The year marked a dramatic jump in export revenue for Nafoods Group, steadily moving the company forward and overcome difficulty with the key products from passion fruit.
Nafoods invested in IQF production line to diversify products and expand export market.
The high-tech passion fruit seedlings nursery invested by the company officially came into operation to supply seedlings for the company’s raw material and affiliated areas, which marked the completion of the closed value chain.
Nafoods Group saw great opportunities in releasing the company’s full potential, specifically listing and trading NAF shares successfully on HOSE.
Completed the nursery expansion with a total area of 6ha, which increased the capacity of 3.5 – 4 million seedlings per year.
Exported fresh passion fruit to Europe, marked a big turning point for Nafoods’ fresh fruit product line. This is also the second year Nafoods was selected as one of Vietnam’s top 100 sustainable companies.
Inaugurated the “Nafoods South JSC” equipped with modern European production lines, including a concentrated production line with a capacity of 7,000 tons per year and IQF production line with 2 tons per hour in Long An province. Nafoods has become a pioneer group to develop green and sustainable agricultural value chains.
Successfully raised $8 million investment as preferred stock from IFC, a member of the World Bank, and nearly $500,000 from Endurance Capital Vietnam I Limited’s common stock to improve fruit processing capacity, expand export markets, and further develop new lines of fruit product.
Accelerated production plan with $5 million investment from Finnfund.